8:15 am, August 6, 2012
NEW car registrations rose 9.3 per cent in the month of July, the latest figures from the SMMT reveal.
The number of cars registered was 143,994, up 9.3 per cent – the fifth monthly gain in a row and the best of 2012.
The SMMT has also revised its full-year forecast for 2012 to 1.97m units – up from 1.94m in 2011.
‘New car registrations rose 9.3 per cent in July, continuing the upward trend seen during recent months,’ said SMMT chief executive, Paul Everitt.
‘SMMT’s full year forecast is for 1.97m cars to be registered during 2012 suggesting a slight slowing of demand in the second half of the year. International economic stability remains a concern for vehicle manufacturers and the UK market, but intense competition and new fuel efficient products are creating great opportunities for motorists.’
‘New car sales increased again in July with a boost to private registrations of 26.4 per cent,’ said Sue Robinson, director of the RMI National Franchised Dealers Association (NFDA).
‘Considering current economic data it is encouraging that sales were up in July. However in light of speculation about the new car market the NFDA feel that some caution should be made viewing the figures.
‘The Olympic games may have caused distraction for consumers with the press reporting a drop in retail sales during the first week of August. Therefore in order for the market to remain stable the Government should offer support by reviewing schemes that boost spending.’
